Astur Gold Clarifies Technical Disclosure

By

Published: Sept 13, 2013 6:44 p.m. ET

Share

VANCOUVER, BRITISH COLUMBIA, Sep 13, 2013 (Marketwired via COMTEX) --
Astur Gold Corp. (AST)(frankfurt:CDC) ("Astur Gold"
or the "Company") announces that, as a result of a review by the
British Columbia Securities Commission ("BCSC"), it is issuing the
following news release to clarify certain technical disclosure
previously made by the Company.

The Company's February 16, 2011 news release titled "Astur Gold
Reports Positive Preliminary Economic Assessment for Salave Gold
Project" (the news release) disclosed the initial Preliminary
Economic Assessment ("PEA") for the Salave gold project without
including cautionary language required by NI 43-101 in equal
prominence and in its correct form. In particular, the news release
did not adequately explain the preliminary nature of a PEA, and its
limitation with regard to establishing mineral reserves and economic
viability. A preliminary feasibility or feasibility study is required
to qualify a reserve estimate and establish economic viability and
the Salave project has not reached this stage of analysis. The full
and correct cautionary statements required by NI 43-101 for a PEA are
set out below:

"The Preliminary Economic Assessment is considered preliminary in
nature and includes inferred mineral resources that are considered
too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves and there is no certainty that the Preliminary Economic
Assessment will be realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability."

Elsewhere, the news release states that the Preliminary Economic
Assessment results "strongly demonstrate the technical and economic
viability of the project" and "Clearly, the project will generate
robust profitability". Such disclosure is contrary to the Preliminary
Economic Assessment stage of the project and contradicts the above
cautionary language. Accordingly, the Company wishes to retract such
statements and advises that such statements should not be relied
upon.

In those instances where the Company has amended, retracted or
clarified previous disclosure, the Company advises readers not to
rely on such statements as they may continue to be found in the
public domain.

The Company is also preparing an amended report to correct items of
non-compliance in its February 12, 2011 technical report titled
"Preliminary Economic Assessment on the Salave Gold project, Asturias
Region, Spain" by Golder Associates Iberica S.L.U. In the event that
there are material changes to resource estimates or the PEA resulting
from amendments to the report, Astur Gold will promptly announce the
changes. The company expects to file its amended PEA report before
the middle of October.

Astur Gold is in the process of conducting a Feasibility Study ("FS")
as announced in the Company's June 26, 2013 news release. The Company
will announce the results of its FS upon completion.

ABOUT ASTUR GOLD

Astur Gold is developing its 100% owned Salave Gold Project in
Asturias, northern Spain, which is one of the largest undeveloped
gold deposits in Western Europe. The Company received approval for an
underground mine from the Commission for Environmental Affairs of the
Principality of Asturias in November 2012 and is completing
additional requirements for the processing plant, water discharge,
and tailings licenses. The Company is working to build a partnership
with the people of Asturias to generate sustainable economic benefits
for the region while balancing the needs of environmental protection
and social community development.

ON BEHALF OF THE BOARD

Cary Pinkowski, Chief Executive Officer, President and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. This document contains certain
forward looking statements which involve known and unknown risks,
delays and uncertainties not under the Company's control which may
cause actual results, performance or achievements of the Company to
be materially different from the results, performance or expectation
implied by these forward looking statements.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.